Talmora Diamond Completes $400,000 Private Placement

Talmora Diamond Inc. (CNSX:TAI) reports it has completed a private placement of 8,000,000 unites.

The press release is quoted as saying,

Each Unit consists of one common share and one-half of one common share purchase warrant. Each whole common share purchase warrant (“Warrant”) entitles the holder to acquire one common share for $0.10 until July 9, 2013. If during the term of the Warrants the common shares of Talmora trade at or above Can. $0.20 for a period of 20 consecutive trading days, the Company may notify the warrant holder to exercise the Warrants at a date no later than 30 calendar days after this notification date or forfeit any unexercised Warrants at that time. All securities issued pursuant to the financing are subject to a four month hold period which expires on November 9, 2011. A cash commission of $8,750 was paid on the brokered part of the financing. Insiders acquired a total of 2,549,820 Units.

For the complete press release, click here.